They have 7 people in SF and 45 in Utah

That's how you do it. Rent a tiny space in SF for your token SF people, then open offices in Portland, Boulder, Austin, etc. You're still an SF company, but your runway is twice as long as everyone else's.

This strategy needs a name. Maybe "The SF funding tentacle"?

"Bait and switch"?

The East Texas Shuffle

Austin is considered Central Texas.

(East Texas is famous, or notorious, as where patent trolls like to file their lawsuits.)

Yeah, I was riffing on the idea of finding a favorable municipality for business reasons and actually running your company where you actually want to run it.

Although given the history of this sort of thing, I guess it'd be more appropriate to call it the Maryland Shuffle.

The siphon